The Forex Noob

I have had a number of emails and comments about the error 126 I received for Forex MegaDroid so I dediced to post the MegaDroid Customer Service email response I received. Hope it helpps.

Our customer support team has replied to your support request (ticket # edited)

Hi (edited),
Thank you for your email. Please, try to perform next actions:

1) Please try to rename file to \”MegaDroid.dll\”, then reload your MT4 platform.

2) The DLL file (MegaDroid.dll) has been blocked so please locate the MegaDroid.dll file in the `libraries` folder using a file browser (as shown in the manual) and right-click the icon. Select `Properties` from the context menu and look for an `Unblock` button on the Properties dialog that will appear.  If the button is visible, click it, then restart MetaTrader.

We hope this response has sufficiently answered your question(s). If not, please do not send another email. Instead, reply to this email or log in to the support ticket system for a complete archive of all your support requests and responses.

Regards,

Support Team

I finally took the leap and opened a live account with a forex broker. After over two months of demos, testing customer service, reading reviews and checking out sites I funded an account.

Here’s what I’ve learned:

1 – No matter what the broker someone hates them and someone loves them.

2 – Be careful and read each brokers info thoroughly. Some brokers are registered with NFA, CFTC or others but read and see if their forex division is registered or if it is other divisions that are. You’ll be surprised. Also, pay attention to what accounts may or may not be ECN. Some forex brokers advertise that they are ECN brokers then when you read their ECN accounts require larger initial deposits, $3500, $5,000, $10,000, etc.

3 – You will not find the perfect forex broker so go with one you are comfortable with. Have your priorities on paper and rate each broker.

4 – Setting up an account and funding it is not as easy as they lead it to be. And it shouldn’t. If you can be signed up and trading in 5 minutes I’d be sceptable of the broker.

5 – Customer service is extremely important. Test them out. We all hope to never need help but in case you do you want a quick response from a knowledgeable person.

6 – Once set up remember it’s now REAL MONEY. No more playing. The demo’s are gone and if you lose your money it’s gone.

Now to get down to business. Not sure if I will be installing either FAPTurbo or Forex MegaDroid on it or not. Their preformance has left me underwhelmed.

Thanks for your time,

The Forex Noob

I neglected to post the Morning Forex Update yesterday but then there were no trades on either FAPTurbo or Forex MegaDroid.

This morning has me wondering if I just have something set incorrectly or if these forex robots are a piece of junk. Who cares if they trade when you are not around if you lose money most nights.

Last night on my FAPTurbo on my FastFX (Fast Brokers) demo account lost money again down$55.31!

Forex MegaDroid made did not trade on either the FastFX or FxPro Demo accounts.

Another EA that I am testing lost $180. No, it’s not Maestro or any other I’ve talked about, just one I’m testing out for tweaking.

Truth is I’m about ready to scrap both FAPTurbo and Forex MegaDroid but I want to give them a chance. My plan has been to go live with them Sunday April 19 but I may keep them on demo accounts and trade live on my own. The open positions I iniciated on my FxPro demo account are up over $1500 this morning.

I know that there is risk in forex trading even with robots but if everyone is experiencing the same results I am over the same time period why don’t we hear more about the down performance. One would think that trades would be signaled the same to all users. But maybe I just don’t get it.

Thanks for your time,

The Forex Noob